Just reading in the NY times now about China’s new ambitious plan for stimulating their economy. It could be a little disappointing all up as no new spending in addition to the USD585bio previously announced was unveiled.
An interesting point to note is that China is to begin a paradigm shift in their economic mind set, encouraging their citizens to spend and consume more as we do in the west. A population of 1.3bio people spending their cash at home instead of saving it could have a pretty big impact on their state of affairs.
I should point out that i am firmly in the camp that feels China will lead the world out of its current economic mess. I could be wrong, as i have been on many things before, but then again i could be right…
